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Chapter 7 Bankruptcy

   Are you overwhelmed with debt? Are your financial options running low? Do your monthly bills sit in a pile, unpaid? Do creditors and collection agencies call you every hour of every day asking for money you don�™t have? If the answer is yes to any of these questions, you are probably in need of a qualified California bankruptcy attorney. A California bankruptcy attorney can tell you if Chapter 7 bankruptcy is the right way to go for your particular financial situation.

   What is Chapter 7 Bankruptcy? Chapter 7 bankruptcy is a form of liquidation which is the most common form of consumer bankruptcy. Often times, it is the best bankruptcy option for consumers with a relatively small amount of debt, as well as those who don�™t have much valuable property. At Law Offices of Omar Zambrano, our California bankruptcy attorney team is equipped to answer any and all questions you may have about Chapter 7 bankruptcy. In the end, what a bankruptcy should be targeted towards is a fresh start for the debtor. The focus of Chapter 7 bankruptcy is to discharge the debtor�™s debt, eliminating the personal liability on as much debt as possible. It is important to remember that while Chapter 7 liquidation usually results in a complete discharge of debts, it is not an absolute rule and some types of debts are not discharged. To get excellent answers to your Chapter 7 bankruptcy questions, contact The Law Offices of Omar Zambrano today.

   Bankruptcy Time Chapter 7 liquidation bankruptcy usually takes about four to six months from start to finish, often taking only one trip to a 341 meeting. A 341 creditor meeting is a meeting of the debtor�™s creditors and is required under section 341 of the United States Bankruptcy Code. During the Chapter 7 liquidation procedure, this is the first meeting which involves the trustee, the creditors and the debtor. It occurs usually 20 to 40 days after the Chapter 7 bankruptcy is filed. At Law Offices of Omar Zambrano, our California bankruptcy attorney team is dedicated to your best interests. After sitting down with us for your initial consultation, we will assess your total situation, gather as much information as possible and help you make an educated decision on your financial future. After filing for Chapter 7 bankruptcy, you will be put into "automatic stay," which immediately stops your creditors from trying to collect on your debts. This temporarily prevents creditors, to whom you owe secured debt, from going after your car, house or other property. The automatic stay will cease most legal proceedings from happening and will end collection efforts. In essence, once you file your bankruptcy case, most of your financial problems are over. Choosing a qualified California bankruptcy attorney team is possibly the most important part of your bankruptcy case. Filing for Chapter 7 liquidation can be complicated, but with a California bankruptcy attorney team at your side, you can successfully go through the bankruptcy process and get your debt problems under control. Contact Law Offices of Omar Zambrano today.

   The Bankruptcy Filing Process Those who are faced with the overwhelming fact that their debts have grown to such a large amount that they might have to file for bankruptcy might not have a clue about how to go about this course. The first and foremost step to take is to put your bankrupt status on paper by filing for bankruptcy through the bankruptcy court. But how exactly does one go about it?

   How Do I File Bankruptcy? First of all, you should keep in mind that filing for bankruptcy is a legal process. For this reason, and for your own financial wellbeing, each decision that you make about bankruptcy should be well informed choices. That is to say, is this process something you want to take up on your own, or do you want a professional to help you? It is possible to file for bankruptcy on your own; however, it is a process that would take a lot of patience and diligence.

   Chapter 7 or Chapter 13? If you decide that you want to file for bankruptcy on your own, the first decision you have to make is which kind of bankruptcy you should file for: Chapter 7 or Chapter 13? Once again, these decisions cannot be made fast. So it would be a good idea to visit your local library and talk to a few people who might know more technical information about filing for bankruptcy.

   Get Help With Your Bankruptcy Filing On the other hand, it might be a safer option to get in touch with a bankruptcy lawyer who can guide you through the complicated procedure of filing for bankruptcy. You will have to provide you bankruptcy lawyer with all your personal information in order to put together and file your voluntary petition. Once the documents are filed at the bankruptcy court, you will be assigned a trustee who will see to it that all the information that is needed is collected from you and that all the information provided is accurate. The next step would be to notify your creditors that you will be filing for bankruptcy so that they will have to stop all actions they might be taking up against you to get your payments. The later procedures include meeting the various parties who are involved in your bankruptcy case, together with your creditors and if possible your creditors' lawyers. While all this is going on, also keep in mind that filing for bankruptcy is a long process which will require a lot of patience. For this reason, having an experienced lawyer might make sure that everything runs smoothly.

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